An undisclosed local owner-occupier has purchased a freestanding warehouse at 199 Miller Road, Villawood from Skipper Property for $9.6 million – reflecting a strong market rate.
The property comprises a 2,051 sqm freestanding warehouse with a yard of 5,436 sqm and is currently occupied by two tenants on six-month leases, both expiring in December 2022.
The deal was negotiated by Alex Sarroff and John Swanson of leading agency Savills Australia who said the private purchaser plans to relocate their business to the property upon lease expiry.
“The Greater Western Sydney industrial market remains tightly held driven by a scarcity of available stock and pent-up demand from owner-occupiers,” said Mr. Sarroff.
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